32986 Blackwell

    Lake Elsinore, CA 92530
    • $1,995,000
    • STATUS: Active
    • ON SITE: 46 days
    • ID#: OC18003157
    UPDATED: 31 min ago
    $1,995,000
    • 0
      BEDS
    • 0.42
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 8,125
      SQFT
    • $246
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1960
    County:

    School Ratings & Info

    Description

    Current CAP rate at 5.10% and ProForma CAP at 6.09% with a current NOI of $101,777! Very well priced at $90,681 per unit. This is a great opportunity to own two well maintained and professionally managed multifamily apartment buildings with a total of 22 units within walking distance of the lake and a park. This is a package deal consisting of 2 separate properties with 2 APN' s sold together. The 17586 Grand Building has an onsite laundry room with owned machines that both buildings share for additional income. The Grand Apartments consist of 8 units with 7 studios and a single 3 bed/2 bath home. The 32986 Blackwell Apartments located across the street from the Grand Apartments consist of 14 studio units with tile floors and custom paint interiors making for very low turnover costs. Lake Elsinore is perfectly situated for commuters between Orange County, San Diego and the Inland Empire. Also see all the attached financial supplements (actual cash flows and rent rolls).

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-02-21T09:25:54.41. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
    www.inlandempiresold.com/homes/79728017

    32986 Blackwell Lake Elsinore, CA 92530

    • Price: $1,995,000
    • Status: Active
    • Updated: 31 min ago
    • ID#: OC18003157
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.42
    Acres
    8,125
    SQFT
    $246
    $/SQFT
    1960
    Built
    Neighborhood:
    241 - Lake Elsinore West
    County:
    Riverside
    Area:
    241 - Lake Elsinore West
    Property Description
    Current CAP rate at 5.10% and ProForma CAP at 6.09% with a current NOI of $101,777! Very well priced at $90,681 per unit. This is a great opportunity to own two well maintained and professionally managed multifamily apartment buildings with a total of 22 units within walking distance of the lake and a park. This is a package deal consisting of 2 separate properties with 2 APN' s sold together. The 17586 Grand Building has an onsite laundry room with owned machines that both buildings share for additional income. The Grand Apartments consist of 8 units with 7 studios and a single 3 bed/2 bath home. The 32986 Blackwell Apartments located across the street from the Grand Apartments consist of 14 studio units with tile floors and custom paint interiors making for very low turnover costs. Lake Elsinore is perfectly situated for commuters between Orange County, San Diego and the Inland Empire. Also see all the attached financial supplements (actual cash flows and rent rolls).
    Exterior Features

    Garage Spaces 0.00 Lot Features 0-1 Unit/Acre Lot Size Source Other Lot Size Units Square Feet Parking Features Unassigned Parking Total 22.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    Average Studio Area 316 Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Laundry Features Community Levels One

    Property Features

    Additional Parcels Description 381174073 Additional Parcels YN Yes Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 5.10 Community Features Sidewalks Country Us Electric Expense 2500.00 Elevation Units Feet Fuel Expense 2700.00 Garage Income 0.00 Garage Rental Rate 0.00 Gross Income 188640.00 Gross Operating Income 176529.00 Gross Scheduled Income 188640.00 Insurance Expense 5328.00 Land Lease YN No Laundry Equipment Own Lease Own Laundry Income 1800.00 Laundry YN Yes Maintenance Expense 8625.00 Net Operating Income 101777.00 New Taxes Expense 24938.00 Number Of Separate Electric Meters 22 Number Of Separate Gas Meters 3 Number Of Separate Water Meters 2 Number Of Units Leased 20 Operating Expense 74753.00 Other Income1 1020.00 Pest Control Expense 660.00 Professional Management Expense 10302.00 Rent Control YN No Senior Community YN No Sewer Sewer Paid Special Listing Conditions Standard Tenant Pays Cable TvElectricity Total Expenses 74753.00 Trash Expense 3260.00 Vacancy Allowance Rate 5.00 Water Sewer Expense 16410.00 Water Source Public

    Listing provided courtesy of Brad Petersen of Pay It Forward Realty.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-02-21T09:25:54.41. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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    street
    Hemet CA, 92545